Economist warns recession could be as bad as 2008
Professor of quantitative social sciences at the University College London Alex Bryson says economic indicators show recession looming
University College London professor and economist Alex Bryson joined "Fox & Friends First" Wednesday, and sounded the alarm over recession concerns following a study he and another economist conducted. Bryson was asked by host Todd Piro whether the Biden administration's recent touting of economic numbers was warranted.
ALEX BRYSON: I think we have to be very careful about making predictions right now. We are showing, me and Danny Blanchflower, that we need to look at expectations from consumers and producers. And what we find is that they are plummeting. They've been plummeting since late spring, early summer. And what we show in a paper we've just published is that this is normally a predictor of a serious economic downturn, even though that's not showing up in all the economic indicators at the moment.
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